Homework on Public and Private Keys - Questions

Blockchain and Bitcoin 101
#4107

  1. Your computer generates a Private Key and your Public Key is derived from the Private Key via a one way function.

  2. Public Keys are used for Encryption. Private Keys are used to electronically as ‘digital signature’ to sign a message or to verify who sent the message.

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#4108

  1. A public key derives from your private key that anyone can see and send encrypted messages.
    A private key is the key to decrypt the public key messages.

  2. encryption and digital signature.

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#4109

  • Describe the concept of public and private key with your own words.
    The public and private key are used in cryptography to encrypt and decrypt messages. Private key is a random number used when a public key is derived. The encrypted message can only be decrypted by the holder of the private key.

  • What 2 use-cases can public key cryptography be used for:
    Digital signatures and encryption

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#4110
  1. Creating a publick and private key makes all the cripto industry opperates. It simply makes possible to transfer private information in open networks that everyione can access and see this information.
    So encripted information using publick key can be accessed only with the private key!
  2. (1) Incriptions - creating/generating private and publick key
    (2) Digital signatures - using the private key to verify the creator of the send information(transaction etc…)
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#4111

  1. A private key is to be kept safe and is used to generate a digital signature in your cryptocurrency transactions. A public key can be shared with anyone you would like to receive crypto from and can’t be traced back to your private key.

  2. Two real world uses for a public key for crypto, such as BTC are:
    The public key may be shared to raise funds for a charity. A business that would like to be paid in BTC may offer the client a public key to their company’s BTC wallet.

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#4112

1 private key must be kept secret public key is available to anyone
public key used to encrypt message private key is used to decrypt the encrypted message
2 digital signatures used in transfer of funds for bit coin
public and private keys used for encrypted messages on public forums

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#4113

  1. A private key is a unique random number meant to be kept safe and secret (kind of your digital fingerprint & master key in one). For each private key a public key is computed using a one-way function (meaning it is not possible to find the private key to a given a public key). The public key is meant to be public.

  • Encryption: send message that is encrypted with the receiver’s public key over an unsecured communication channel. Nobody can decrypt the message except the receiver using his private key (or anybody in possession of his private key). This is not used in cryptocurrency.
  • Digital Signatures (identity / integrity): sign message with ones private key. The receiver can now verify using the sender’s public key that the message actually originated from the sender (or anybody in possession of his private key). This is used to verify transactions in cryptocurrency.
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#4114
  1. a public key can be created from a private key. the public key is used to encrypt and the private key is used to decrypt. a public key is for everyone (public) while a private key is private

2
Bob wants to send Alice an encrypted email. To do this, Bob takes Alice’s public key and encrypts his message to her. Then, when Alice receives the message, she takes the private key that is known only to her in order to decrypt the message from Bob.

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#4115
  1. Public key is derived from a Private key, with mathematical functions
  2. Encryption and Digital Signatures
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#4116

  1. Private key is used to both encrypt and decrypt the data. The public is only used to encrypt the data and is open to public access.

  2. Crypto-transaction and digital signature

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#4117

You only explained encryption. The other use case is digital signatures which is heavily used in digital currencies. :wink:

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#4118

  1. Public key is random big number, which is known to the public and it is generated from your private key, which is hidden from anyone but yourself. You are able to generate public key from private key, but it is close to impossible to make it vise-versa, because to solve it would take until end of the times. So your private key needs to be stored very wisely.

  2. It can be used for encryption of some message you want to send thru the network, or as digital signature when you are making transaction in BTC for instance.

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#4119

  1. Describe the concept of public and private key with your own words.
    Private and Public keys are used to encrypt and decrypt messages/transactions. Public key is derived from the private key using a one-way mathematical function.

  2. What 2 use-cases can public key cryptography be used for?
    Encryption and Digital Signatures

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#4120
    1. Describe the concept of public and private key with your own words.
      A one way function that generates keys from random numbers starting from the private key -> public key -> bitcoin address / Digital Signature.
    1. What 2 use-cases can public key cryptography be used for?
      Encryption: In the messaging example: Alice uses Bob`s public key to encrypt a message that Bob can decipher using only his private key.
      Digital Signature: To check through the persons public key if the message/transaction sent is sent from the specified address/person. (authenticity)
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#4121

  1. A private key is a long random number generated by the software. Using that private key, the software generates a public key using a one way cryptographic function.

  2. For encrypting messages across a public domain. Also for digital signatures which enables the message recipient to verify who sent it.

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#4122
  1. Describe the concept of public and private key with your own words.

A private key is a randomly (assymetrically) generated number that a users computer generates. It is the users secret identity. The private key generates a public key with a formula. The public key is “for the world to see.” These are used over unsecured networks to send encrypted messages.

  1. What 2 use-cases can public key cryptography be used for?

The two use cases for public key cryptography are encryption and digital signatures. Messages are encrypted and decrypted with private and public keys with the private never being revealed through the public. Digital signatures are used for crypto the most. It is “all about verifying who sent a digital message.” When sending BTC, the transaction must be signed using the private key.
Wallet: Private key generated>Public Key creates>BTC address

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#4123

  1. Private and public keys allow the user to securely send and receive information. You make your public key known to everyone, so anyone can send you information or data, once someone encrypts their data with your public key, only you can access that information with your private key. This is because it flows top-down like a waterfall.

  2. Public key cryptography can be used to send and receive information privately, on a public network. It is also used for digitally signing transactions on the bitcoin blockchain.

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#4124

Private Key

The private key is the ID of its owner. All your personal information is stored and secured on this key. Private keys allow users to access to the data they possess and received. Private keys are also irreverisbly hashed passwords which cannot be decrypted, but can decrypt information on the public key that it generated. You use this key for authorization purposes to prevent theft.

Public Key

Invented in 1976, the Public Key is an asymmetric cryptographic system in which data encryption is asymmetric since it uses two keys instead of one key. The public key corresponds to the private key, as it was generated by the private key through a one-way function called Elliptic Curve Cryptographic Multiplication. Technically ECC is responsible to keep the private key securely-encrypted while allow this key to also decrypted any data its public key has encrypted. Therefore, public keys are used as an open address to encrypt any distributed data, which only the sender and reciever can see by decrypting them with their private keys.

Two Use-Cases:

  • Public Keys allow the user to have their public key in an open and unsecure network to-which people can use their public keys to encrypt any message and transfer it to that key.
  • Public keys are also utitilized for digital signatures of transactions without comprising the security of the private key it corresponds to.

In simple terms:

Your private key is your private propety, while your public key is shared by everyone on the network. People online can use your public key to send you STUFF that becomes encrypted by your public key. Nobody, but you can decrypt that STUFF on your public key, because you own the key (private) to that key (public). You cannot irreverse someone’s public key to get their private key, so good luck!

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#4125
  1. Describe the concept of public and private key with your own words.

A private key is used to sign a message. It is stored privately and must be used to open and sign a message. The public key is generated from the private key and can be shared publicly.

  1. What 2 use-cases can public key cryptography be used for?

The 2 use cases for public key cryptography are; 1. Encryption, 2. digital signatures and identity integrity.

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#4126

1.) The public key is used to encrypt information, the private key is used to decrypt it.
2.) It can be used to send a message or transaction. It can also be used as a digital signature to verify who sent the message or transaction.

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